Gambling legend Billy Walters joins host Tom Coyne to discuss his upcoming book and his remarkable golf life. They talk about his friendship with Phil Mickelson, $100 million in losses, a $400,000 Ryder Cup wager, and Walters' conviction for insider trading violations. They also delve into golf hustlers and cheaters in Las Vegas, a troubled encounter at Rancho Santa Fe, and Walters' transformation in prison where he helped other inmates. The podcast explores Walters' passion for helping convicts and his collaboration with Senator Harry Reid.
Billy Walters' life transformation was influenced by quitting drinking, marrying a supportive wife, and facing personal tragedies.
Walters felt betrayed by Phil Mickelson's failure to testify on his behalf during a legal case, resulting in Walters spending 31 months in federal prison.
Walters expresses confusion and frustration over the guilty verdict in his insider trading case, believing the evidence presented should have cleared him.
Deep dives
Billy Walters' Life and Gambling Career
Billy Walters shares his wild and adventurous life story, from his early experiences in a pool hall to becoming one of the most successful sports gamblers of all time. He discusses his high-risk tolerance, love for competition, and his early struggles with alcohol and poor decision-making. He attributes his transformation to marrying a supportive wife, quitting drinking, and facing personal tragedies that changed his outlook on life.
The Complicated Relationship with Phil Mickelson
Billy Walters recounts his friendship and betting partnership with professional golfer Phil Mickelson. He reveals the disappointment and betrayal he felt when Mickelson failed to testify on his behalf during a legal case, resulting in Walters spending 31 months in federal prison. Walters shares his skepticism towards Mickelson's public persona and believes that there are aspects of Mickelson's personal life and character that could have been included in the book, but were left out.
Insider Trading Case and Legal Battle
Billy Walters provides insights into his insider trading case and the trial that ultimately led to his conviction. He argues that the evidence presented during the trial should have cleared him of any wrongdoing, as he had traded on public information, a practice he had engaged in throughout his Wall Street career. Walters expresses confusion and frustration over the jury's guilty verdict, believing that he would have been found innocent based on the evidence presented.
The Culture of Cheating in Golf Tournaments
The podcast episode explores the culture of cheating in golf tournaments. While outright cheating was not prevalent, players often tried to manipulate their handicaps to gain an advantage. This involved marking the ball to improve positioning and passing themselves off as higher handicap players. However, it is important to note that not everyone engaged in these practices. The episode delves into the motivations behind these actions and their impact on the integrity of the game.
The Evolution of Golf Instruction and Equipment
The podcast episode discusses the evolution of golf instruction and equipment and how they have shaped the game. The guest shares personal experiences with various golf teachers, including David Leadbetter, Jimmy Ballard, and Butch Harmon. He highlights the importance of finding the right instructor and how they can help improve one's game. Additionally, he reflects on the changes in golf club design and how technological advancements have made it harder to slice the ball. The episode also touches on the significance of the sandwich and the impact of the big birth of driver on the game of golf.
You might have heard that gambling legend Billy Walters is releasing a book, and that Phil Mickelson is prominently involved. But have you heard the rest of the story? The one in which Walters is raised in the pool halls of rural Kentucky, rises to legitimate business power on the Las Vegas Strip and uses his time in prison to do some good for other inmates? Walters joins host Tom Coyne to chat about Phil, the $100 million in losses, that $400,000 Ryder Cup wager and the two-year sentence Walters claims Mickelson could have prevented had he testified. But you’ll also hear the rest of a remarkable golf life.
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode